Malaysia legislation
Section 17
Section 17
Issue of bonds or other securities by body corporate
(2)
Notwithstanding anything contained in the written law by which a body corporate is established, the body corporate may charge or mortgage or pledge all or any of its assets (movable or immovable), undertaking or revenue to secure any sum raised by way of loan guaranteed under this Ordinance.
13
Restriction on borrowing powers of body corporate so long as guarantee outstanding